A crypto asset for the new Internet economy, Basic Attention Token or BAT is a hot topic these days. Based on the Ethereum technology, this utility token is especially meant for the digital advertising industry. Working with the Brave browser, the new token is used to pay users for their attention and publishers for their content, while providing advertisers with more in return for their ads.
This all becomes possible through the Brave Browser, where users receive BAT rewards for watching privacy-preserving adverts. On the other hand, advertisers pay for their advertising campaigns in BAT tokens. By doing so, they can deliver targeted ads to gain maximum engagement and cut down losses due to ad abuse and fraud. Out of this budget, 70% is given to users while advertisers receive a small portion.
Launched in 2017, Basic Attention Token follows one of the fastest sell-out initial coin offerings (ICOs) of all time. It has led to the platform raising a total of $35 million within a minute. Since then, BAT has introduced its attention-based advertising experience to users in various countries through its Brave Rewards program.
A major reason for the ultimate success of BAT is its integration into the Brave browser’s first global private ad platform. It has over 9.2 million daily active users, 25.4 million monthly active users, 1 million verified creators accepting BAT, thousands of ad campaigns with leading brands, millions of wallets created and growing utility in the most innovative names in blockchain gaming.
As of November 2020, UK, US and Canada had the most active advertising campaigns.
Who Are the Founders of Basic Attention Token?
There are two persons behind BAT – Brian Bondy and Brendan Eich. Brian Bondy is the CTO of Brave and Basic Attention Token. Earlier, Eich was the founder and CTO of Mozilla. He also founded JavaScript in 1995. He also aided in launching Mozilla Firefox in 2004.
How BAT Works?
Three main pillars behind the working of the BAT are advertisers, publishers and content creators and users.
Advertisers
Brave’s anonymous accounting lets advertisers know their ads’ effectiveness without violating privacy. They then will make a transaction in BAT to buy advertising space and user attention. As a result, they receive a better return.
Publisher and Content Creators
Both content creators and publishers get paid in for earning ad revenue and user contribution in addition to tips.
Users
Users are also an important part. They get paid for their attention. Privacy of users is maintained as they receive BAT for viewings ads.
How Brave and BAT work together?
Brave Rewards, a feature of Brave allows users of this browser to contribute BAT to the sites they visit. When Brave Ads are turned on, the browser will start learning the preferences in order to show occasional relevant ads as system notifications.
Whether you wish to buy BATs directly or earn tokens by seeing ads, you can use them to support the sites you visit, via direct tipping or automatically. And soon, you’ll also be able to use BAT to get access to exclusive premium content and products.
What Makes Basic Attention Token Unique?
As of now, BAT is primarily used as a payment token for running advertising campaigns through Brave Ads. One of the main distinguishing features of BAT and the Brave Browser ecosystem is the ability to reward users who are not yet part of the network.
Since their launch, both Brave Browser and Basic Attention Token have gained significant user interest. As of October 2020, Brave Browser enjoys a total of 20.5 million active monthly users. On the other hand, more than 368,000 unique wallets carry the BAT.
What are the benefits of Basic Attention Token?
BAT is challenging the current situation by offering an alternative solution to paid advertising. BAT is a refreshing approach that intends to bring the power back to users while at the same time benefit publishers accordingly. In years to come, digital advertising will be disrupted as more and more internet users will become aware of protecting their privacy. Also, it may be used as a mode of payment at various platforms like Telegram, other browsers and so on in the coming future.
Why increase in the price of BAT?
A sudden upsurge in the price of Basic Attention Token is because of Grayscale Investments launching new trusts covering the digital assets. Grayscale Investments is a crypto investing company that has various trusts covering various cryptocurrencies.
The announcement made by Grayscale Investments highlighted that it launched trusts for Basic Attention Token along with other cryptocurrencies. They operate under the name Grayscale Basic Attention Token Trust and others. Basic Attention Token — BAT got a 48.2% boost from the announcement.
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